CBO: 2011 Budget Cuts Far Less Than Promised

Thursday, 14 Apr 2011 01:12 PM

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
The Congressional Budget Office says the fiscal 2011 budget that lawmakers are set to approve today cuts spending by a tiny fraction of the advertised amount, the National Journal reports. A CBO Congress,budget deal,spending cuts,shrinking,Congressional Budget Office,CBO score,$38.5 billion,$352 million,National Journalanalysis says spending cuts will total $352 million, or less than one-hundredth of the $38.5 billion figure settled on by both parties.

“The nonpartisan budget agency also projects that total outlays are actually some $3.3 billion more than in 2010, if emergency spending is included in the total,” the Journal reports.

The CBO attributed the sudden disappearance of the highly touted cuts to spending increases that did make it into the bill and to accounting procedures employed by Congress to reach its $38.5 billion target.

It’s unclear what impact the CBO score will have on the bill’s chances for passage. The CBO did confirm that the budget comes in below the amount that President Barack Obama requested for 2011, and does contain long term savings.



© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Mali's Islamists Withdraw Cease-Fire Pledge

Friday, 04 Jan 2013 13:06 PM

Tens of thousands of Fatah supporters rallied in the Hamas stronghold of Gaza on Friday for the first time since they we . . .

Fmr. CIA Director Hayden: Iran Nuclear Crisis Gets 'Scarier'

Tuesday, 17 Jul 2012 18:11 PM

 . . .

Join Fmr. CIA Director for Special Iran Briefing, Assess the Danger

Friday, 13 Jul 2012 12:27 PM

 . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved